There can be no specific answer to the question. Creditors/collectors are usually in no hurry to pursue a lawsuit for debt, as the average SOL for filing a suit for unsecured (credit card) debt is 5 years. The average time for a suit to be heard after it has been filed is 18 months; although due to the economic crisis, courts are rapidly becoming backlogged with such matters so the time frame could be much longer. The execution of a judgment writ itself, has specific time limits depending upon how the judgment is to be enforced and/or the laws of the debtor's state. The debtor(s) will always receive a final notice of judgment whether or not he or she appeared at the civil hearing (trial) before the judgment can be enforced. Never, never ignore a lawsuit summons nor a notice of final judgment, it may result in the debtor's forfeiture of his or her right to protect real and personal property from attachment/levy.
Unfortunately, there is no simple answer to this question. I have seen credit card companies go after $1000 in less than six months, and I have also seen them wait more than two years to go after nearly $10,000. It really depends on the company (in my experience, Discover seems more aggressive than the rest) and the amount of debt, as well as what the debtor does once payments are late. Even then however, the companies seem to make decisions on filing suit seemingly randomly at times.
Check the statute of limitations for unsecured debts in your state (make sure you don't accidentally do something that starts the time over) and figure that they will likely act prior to the expiration of this term.
It is legal for companies to purchase charged off debt from credit card companies and then to collect it. If you owe the money, the sale doesn't change that. The Court can only determine whether or not the money is owed. Not having money is not a defense. If the Court determines that you owe the money, the company will have a judgment that can be collected via wage garnishments, bank levies, property liens, and so on. Companies do sue on debts, and they do obtain judgments. If you cannot work out a settlement or payment plan with the owner of the debt, consider bankruptcy protection.
Well it depends. Most states allow the collection of the deductible. Say $500. (assuming the person at fault in the accident is being asked for money) Generally though, the person would still have to take you to small claims court to collect. Only a collection company or a court judgment would show up on your credit reports. If your husband had no insurance at the time of the accident, he could be responsible for the entire cost of the repairs!
Court
ouch well they can make you sell your assets to make the money to pay them
I thought this was illegal. How is the credit card company that is garnishing his wages supposed to collect their money when our account is frozen?
It depends. Some credit cards come to you as equity loans (you activate the card, it gives you a limit on the card equal to the equity on your house) and if you don't pay off the loan, the house belongs to the company. If it is a regular credit card and you don't pay, they may take you to court and win a judgment against you. That would allow them to put a lien on the house in the amount of the judgement. So, to answer your question, yes, there are ways that a credit card company can put a lien on your house.
If the plaintiff (that is the person who filed the law suit) wins (i.e. is awarded a judgment), then they can attempt to collect the money that they were awarded by the Court. There is no guarantee that they will be able to collect any money, as the Court is not involved in this process and it is up to each individual plaintiff to collect on their judgment.
If you paid using a credit card you are within your rights to request that the credit card company returns the money you gave them. and seek legal aid.
Capital or credit.
sure they can but they cant collect or that is what happens in texas they can get an injunction against you but that means you have to pay them but not when Absolutely. You own them the money and they can hire an attorney or sell the debt to a collection agency.
Declaring bankruptcy does not allow you to go out and spend money without having to pay it back. Yes, the debt is not covered by the Chapter 13 filing, so they can do what they can to collect the new debt.
When you took a loan out to buy your car, you are supposed to pay the bills. If you don't pay the bills, someone will come around to collect the money. When you can't pay up, the bank company will send someone to collect your car.